Ticker ASPO
Share price EUR 7.64

Aspo

Following started
Estimates updated
Price updated
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      Dec 3, 2009 1:36:08 PM EET
Dec 19, 2025 10:53:54 AM EET
Feb 3, 2026 7:35:07 PM EET
Feb 3, 2026 7:37:42 PM EET
 
Estimates on a dark background are based on consensus estimates that are collected from the market. Valuatum calculates the other estimates using the consensus estimates and its own analysis. Actual figures are collected from company disclosures. More information can be found on Valuatum's web site.
Income statement (EURm) 
 2023 
 2024 
 2025e 
 2026e 
 2027e 
 2028e 
Net sales (cont. operations)536 593 632 634 694 713
EBITDA59.4 57.6 66.3 74.2 72.2 83.7
EBIT25.9 18.6 32.5 37.3 46.2 54.2
EBIT without non-rec. items25.9 18.6 32.5 37.3 46.2 54.2
Pre-tax profit (PTP)16.6 10.1 27.1 34.6 34.7 49.2
Pre-tax profit without non-rec. items16.6 10.1 27.1 34.6 34.7 49.2
Net earnings (cont. operations)16.2 6.4 21.8 30.1 26.7 36.8
Adjusted net earnings16.2 6.4 21.8 30.1 26.7 36.8
Profit for the period1.6 6.4 21.8 30.1 26.7 36.8
Free cash flow27.3 -29.4 4.5 57.8 20.5 104
See the entire income statement

Balance sheet (EURm) 
 2023 
 2024 
 2025e 
 2026e 
 2027e 
 2028e 
Tangible assets  169 174 182 172 185 160  
Shareholders' equity  140 161 177 199 217 243  
Interest-bearing liabilities  196 224 230 189 206 126  
Balance sheet total (assets)  410 512 547 529 572 520  
Net debt  165 188 205 164 172 89.9  

Key figures 
 2023 
 2024 
 2025e 
 2026e 
 2027e 
 2028e 
Net sales growth-4.3% 10.5% 6.7% 0.2% 9.4% 2.8%
EBITDA %11.1% 9.7% 10.5% 11.7% 10.4% 11.7%
EBIT %4.8% 3.1% 5.1% 5.9% 6.7% 7.6%
ROE %11.4% 4.2% 12.9% 16.0% 12.8% 16.0%
ROI %7.9% 5.0% 8.0% 11.6% 11.6% 12.8%
Equity ratio34.3% 36.9% 37.4% 42.9% 42.7% 52.0%
Gearing %118% 99.5% 100% 72.2% 70.3% 33.3%

Share data 
 2023 
 2024 
 2025e 
 2026e 
 2027e 
 2028e 
EPS, unadjusted0.52 0.20 0.69 0.96 0.85 1.17
EPS, excl. non-recurring items0.52 0.20 0.69 0.96 0.85 1.17
FCF/share0.87 -0.94 0.14 1.84 0.65 3.31
Div. per share0.24 0.19 0.26 0.29 0.35 0.70
BV/share4.47 5.13 5.64 6.34 6.90 7.72

Pricing and key ratios 
 2023 
 2024 
 2025e 
 2026e 
 2027e 
 2028e 
Share price (EUR)  6.00 4.85 7.64 7.64 7.64 7.64  
Market cap (EURm)  189 152 240 240 240 240  
EV (EURm)  354 366 482 437 442 357  
MVA (EURm)  48.0 -8.91 62.9 40.9 23.3 -2.56  
P/E  11.6 24.0 11.0 7.98 8.99 6.52  
P/FCFF  6.9 -5.2 53.7 4.2 11.7 2.3  
P/BV  1.34 0.94 1.36 1.21 1.11 0.99  
P/Sales  0.4 0.3 0.4 0.4 0.3 0.3  
EV/EBITDA  6.0 6.4 7.3 5.9 6.1 4.3  
EV/EBIT  13.7 19.7 14.8 11.7 9.6 6.6  
Payout  46.5% 93.9% 36.8% 30.5% 40.8% 60.0%  
Dividend yield  4.0% 3.9% 3.3% 3.8% 4.5% 9.2%